Inno Holdings Inc. (NASDAQ:INHD) Sees Large Decline in Short Interest

Inno Holdings Inc. (NASDAQ:INHD) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 101,310 shares, a decline of 58.4% from the December 31st total of 243,287 shares. Based on an average daily trading volume, of 335,073 shares, the short-interest ratio is presently 0.3 days. Approximately 2.5% of the company’s shares are short sold. Approximately 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 335,073 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Inno stock. Two Sigma Investments LP acquired a new position in Inno Holdings Inc. (NASDAQ:INHD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,938 shares of the company’s stock, valued at approximately $58,000. Two Sigma Investments LP owned approximately 0.38% of Inno at the end of the most recent quarter. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INHD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a research note on Thursday, January 22nd. Wall Street Zen lowered Inno to a “strong sell” rating in a report on Saturday, December 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Inno Stock Performance

NASDAQ INHD traded down $0.09 during trading hours on Thursday, reaching $1.26. The stock had a trading volume of 224,537 shares, compared to its average volume of 280,406. The stock has a fifty day moving average of $3.09 and a 200 day moving average of $34.45. Inno has a 52-week low of $1.06 and a 52-week high of $474.72. The stock has a market cap of $5.14 million, a P/E ratio of -0.06 and a beta of -1.18.

Inno (NASDAQ:INHD) last posted its quarterly earnings results on Monday, December 15th. The company reported $3.60 EPS for the quarter. The company had revenue of $1.09 million for the quarter. Inno had a negative net margin of 248.77% and a negative return on equity of 47.74%.

Inno Company Profile

Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.